The Federal Reserve has approved a capital plan that was re-submitted by BB&T Corp. (BBT) of Winston-Salem, N.C., the regulator announced Friday.
BB&T's original capital plan was rejected in March, based on a "qualitative assessment," according to the press release the Fed issued today. It did not specify how the new plan differed from the previous one.
The earlier rejection put a temporary hitch in the $171 billion-asset company's plans to expand, American Banker reported earlier this year. Nevertheless, BB&T's leadership expressed optimism about its ability to carry out future acquisitions.
"I would be surprised if you don't begin to see acquisitions as we head through '14," BB&T chief executive Kelly King told analysts in July.
BB&T is the second-largest bank in North Carolina.